2012-11-21
2012-11-29
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tax cuts on consumer spending. as we know with all of this talk of the fiscal cluf tax cuts are set to spike at the beginning of next year. according to the new report allowing middle class tax rates to group, along with allowing the current tax cut to expire would change the gdp. this is all part of the president's effort to extent the burr-era tax cuts for americans making less than $250,000 a year, all while incriesing taxes on the wealthy. it seems some members of the dgdp could be coming around and be ready to go against the grover norquist pledge. more bill press after the break. stay with us. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute jumps. well, my experience in the military was varied. i spent a lot of time in iraq, a lot of time in kuwait. i did

and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journa the fiscal cliff, fiscal cliff, it could be the-- i don't know intimidation factor, it could actually be worse than going over the cliff. >> i think that's a brilliant point, charles. if we went over the cliff for a few months the impact would not be enormous, and uncertainty is a bad word and fear is a really, really bad words and these are the words that govern the economy today and imperative that democrats put their heart and soul into a compromise. absolutely imperative. >> dagen, what do you think about this? >> i think you cannot dismiss this, particularly if you're on the left of something as hocus-pocus and fear mongering, you can look, the list of companies that are bulge back spending and some of t biggest names in the ideas, whether it's a wal-mart, ford, disney, you name it. no company is going to commit new money to new jobs if ne don't know what

norquist's anti-tax pledge. saying they're open to letting revenues rise if democrats do their part in the budget talks. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece, and republicans should put revenue on the table. i will violate the pledge, long story short, for the good of the country only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. for instance, if i were in congress in 1941, i would have signed the declaration of war against japan. we're not going to attack japan today. the world has changed, and the economic situation is different. >> so peter king is telling us, mike barnicle, not only is he going soft on taxes, he's going soft on japan. >> i know. >> it's not just peter king on the taxes. it's a big step, don't you think? >> it's a big step. >> grover. yeah, grover's taking a big hit since the election. there's no doubt about it. i think john, you'd verify this. number of republicans, i've talked to a couple of united states senators who

-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one of the two sides had some movement in their position on the tax side of the debate. that side is the re

. >> to be fair, he makes this point, first of all nobody has voted for tax increase yet. and they haven't in a very long time. so he accused them of having impure thoughts on tv. those are his words not mine. but nobody has actually cast a vote. >> bill: a republican having impure thoughts? >> is that against the law? >> tony perkins is going to jump on this, too. so there's that. there is also -- these folks -- chambliss saxby chambliss were georgia, mccain, they flirted with this idea of increasing revenue in the past. this isn't too new for them. until we see actually policy proposals that differ from romney's plan of disclosing loopholes and finding revenue that way, we shouldn't be jumping to conclusions this is a big shift in republican thinking. >> bill: they haven't voted for anything. they haven't broken the pledge. we may be open to new revenue but never no, no, no way. will we raise tax rates on the wealthiest of americans. basically, it is the same old romney b.s. that we're continuing. >> you gotta watc

't act, if the president doesn't act, in unison, your taxes are going up come january 1st to help raise revenue to pay down the national debt. stay with me here for a moment because we'll show you exactly, you know, how much your taxes will be rising. but here's the thing. it doesn't have to happen, this predetermined jump in income taxes and the new parlor game on capitol hill is to pick the next republican, follow me here who is willing to break a no tax pledge made to a very powerful lobbyist, in order to cut a deal with the democrats to focus the pain of new taxes on the wealthy. see this picture? see these three guys. here is yet another republican speaking just this morning. >> i'm not obligated on the pledge. i made tennesseans aware i was just elected that the only thing i'm honoring is the oath that i take when i serve when i'm sworn in this january. >> so republican senator bob corker is saying his oath of office trumps any no tax pledge made to washington lobbyist grover nor quist. republican saxby chambliss says he cares more about america and the fiscal mess we're in than h

to get the majority of a majority on tax issues. he's not going to get a majority of majority on debt raising. >> much harder on the debt ceiling than taxes. >> that's what i'm saying. i refuse to vote to raise a debt ceiling when they were trying to raise it to $5 trillion. it's something you don't do unless you get a lot of cuts on the other side. >> and it's not a game. because if you don't raise it, we saw what happened last time, you can get your debt downgraded and has real economic consequenc consequences. and that's why when people think about the fiscal cliff, we all assume that sane minds will prevail and they'll come up with some deal. there's no guarantee that sane minds will prevail. and recent history would suggest that sanity almost never prevails in washington. so you can assume it's going to be more difficult than we think. you can assume that the bush tax cuts might all go away for a short period of time. and you cannot assume they just raise the debt limit. you cannot make that assumption. >> are the president's men and women -- are they under -- are they making the

at what is going on with the protests at lax airport. this is a live shot right there. your taxes are going up and that has grover norquist fired up, the antitax man. next. >>eric: look on the left side your screen, los angeles airport, lamb, where protesters have disrupted travel plans for a lost members and you can see the cops checking it out, and maybe lifting a few of the protesters off the ground, escorting a few protesters away presumably the union protesters, over issues they had with the los angeles airport. on the right side of the screen, that is chicago. the busiest if not the busiest airport in america, also increasinged has a lot of travel backups with weather and a lot of issues because of the shear volume. so, a lost messy travel plans. keep your eye on that. that is it, it is over, get ready to pay more in taxes because according to the mainstream media, republicans are ready to cave to the democrats. and let taxes go up. does the many stream media after it right? grover norquist says absolutely not. i hear a lot, a lot, rumors that speaker boehner may be interest

washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. why use temporary treatments when you can prevent the acid that's causing it with prevacid24hr. with one pill prevacid24hr works at the source to prevent the acid that causes frequent heartburn all day and all night. and with new prevacid24hr perks, you can earn rewards from dinner deals to music downloads for purchasing prevacid24hr. prevent acid all day and all night for 24 hours with prevacid24hr. >>> how do you say a person like susan rice is not qualified? you may not like her. i you may not like the administration. but don't say she's not qualified. she is the most qualified person that i'm sure any of you know, that the senators know. it is a shame that anytime

to leave the agency. with the content congressional negotiations are the sequester and tax cuts to expire at the end of the year, tonight and prime time, focusing on the beginnings of the debt of the debate on the national debt. c-span will go back to august of last year to review some of the debate and is congress is from congress and the white house to run in the passage of the budget control act. the law created the automatic spending cuts to take effect in january along with some expiring tax revisions as part of the so- called fiscal cliff. it airs tonight it it o'clock eastern-- a o'clock here on c-span. >> in january, our first week we were sworn into office, the president ask for an increase in the debt ceiling. i made clear at that time there would be no increase in the debt ceiling without significant cuts in spending and changes to the way we spend the american people's money. shortly after that, i was in new york and gave a speech and outlined i thought the spending cuts should exceed the amount of debt limit increase and there should be no taxes as part of this agreement. whe

on a platform of increasing taxes on wealthier americans, if you look at the polls a majority of americans actually agree with him on that issue. as you know, president obama invited congressional leaders to the white house last week. they struck a rare tone of bipartisanship after that meeting. then as you point out, seems like both sides sort of went back to their respective corners and democrats really digging in their heels on entitlements, republicans digging in their heels on the issue of taxes. we're told that aids on the hill are trying to work through a couple of compromise scenarios, especially on the issue of taxes, that would essentially allow taxes to go up on wealthier americans without increasing the rates. there are a couple of ways that you can do this. one would be to roll back tax breaks that will wealthier americans get. another idea is to possibly tax higher income earners on the lump sum of their salaries. so they're sort of batting some of those ideas back and forth. one component though, alex, that is giving folks around here some optimism, speaker boehner and major

up 800 billion in new revenue and overhaul the tax system and changes to medicare and that's why the republicans are asking the democrats to come in and explain your deal. this plan was hatched in 2010 and everyone walked away from it and now they call bowles back up? it is late. this is what the american people are upset about. nothing gets done. >> steve: we are a month from the cliff. >> gretchen: we could have avoided the cliff if they used the plan as a starting point. americans are upset nothing gets done. >> brian: norquist is the bad guy. you should walk away from grover norquest. he said you have enough money on capitol hill and stop asking us . he's been a watch dog on our money so whether you are democrat or republican you should salute him. he warned you in the past that people who walked away from the no new taxes paid a price. >> remember the gang of 6. three of the people that you mentioned spent eight months in the room with democrats, pretending to negotiate tax increases for entitlement reform . after a while coburn had to admit they were offered nothing but tax

is to keep the bush tax cuts, cut entitlements, and postpone cuts to the pentagon. in other words, they haven't budged at all. how is that compromise? how is that reasonable? but it gets worse. speaker boehner now says the health care law should go under the knife. boehner says, quote, we can't afford it. we can't afford to leave it in tact. that's why i've been clear that the law has to stay on the table as both parties discuss ways to solve our nation's massive debt challenge. folks, this debate is over. the american people have spoken. mitt romney ran on two big ideas in this campaign. cut the taxes and reveal our obama care. he lost. those ideas lost. but they didn't learn a thing. joining me now is congressman keith ellison, democrat for minnesota. he's co-chair of the progressive caucus. and former pennsylvania governor ed rendell, now an nchl bc news political analyst. thank you both for joining me tonight. >> glad to be here, al. >> good to be here. >> congressman, let me start with you. what is your are reaction to speaker boehner's claim that the health care law should be on the tab

will be able to reach a deal before the tax hikes and spending cuts kick in just 33 days. it is going to look bad for congress if they cannot get this done and some republicans are saying it's time to give in. politico's also reporting oklahoma representative tom cole told his g.o.p. colleagues yesterday to move forward with the president's he plan to extend the tax breaks for everyone except the top 2%. cole said that he does not agree with raising taxes for anyone but that it is time to take care of the majority of the american people first and fight for the wealthy later. that bill made it through the senate back in july but it still has not made it through the house. we're right back. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute

their own day of thanks. >> they can't stand it. this is one we made good without them. they tried to tax us without representation. >> i think july 4th is probably worse. >> either way, they hate both of those holidays. >> ross, do you hate thanksgiving? >> no, i don't hate thanksgiving. 400 years ago, they gave thanks for the pilgrim fathers to leave, i think. >> there you go. they didn't want us anyway. >> now look what happened. >> oh. he's 007. >> good luck with the turkey, by the way. >> thank you, ross. we appreciate it. have a great day or so. we'll see you back here on friday. >> they probably don't like any of our holidays. >> christmas. >> very jealous. >> they have places in london with a good thanksgiving. i remember when i lived in london, ross could participate in this. >> that was big of him. i was going to ask him about thanksgiving, but he extended a happy thanksgiving. >> i could tell it was tinged with a little resentment. >> not from ross. >> still to come on squawk, we have a well-known name to our viewers. jim chanos, he'll be joining us in just a few minutes. >>> befo

to raise taxes we're going to do it on everybody. that to me is fairness. i don't think anybody's taxes ought to be raised. i'm offended listening to the people responsible for this blame the american people because they're not paying enough in taxes for the problem. that's not our problem. our problem is a spending problem, first, second, third, fourth, fifth, on down to number ten. >> the countdown is on and we're 42 days from running off the so-called fiscal cliff. yesterday as you heard, rush limbaugh came down hard against raising taxes to solve this problem. he lamented the gop infighting whether to let the bush tax cuts expire on the richest americansp during a speech yesterday, federal reserve chairman ben bernanke who coined the term fiscal cliff warned of dire consequences if congress doesn't get their act together. >> spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat recovery. by the reckoning of the congressional budget office, the cbo, and that of many outside observers a fiscal shock of that size would send the economy to

a break the no tax pledge. that is a hopeful sign, folks, because a new cnn/orc poll shows more than two thirds of americans believe a trip over that cliff would create major problems, perhaps even a crisis. cnn political editor paul steinhauser is live from washington, d.c. this morning. nice to see you, paul. so the fiscal cliff triggers back-breaking tax hikes and massive spending cuts. you've got more numbers that show what type of budget plan americans actually prefer. >> exactly. one of the big arguments, zoraida, is should it be all spending cuts to get us there or tax increases, as well? brand-new numbers just out from cnn/orc. only about one in three say whatever deal should be struck should be just spending cuts. but almost seven in ten, two thirds of americans say the plan should include spending cuts and tax increases. our poll indicates americans are not so optimistic a deal will get done and if it doesn't get done, who gets the blame? look at this right here, about 45% say republicans in congress will be blamed if there is no deal and the country falls off the fiscal cliff.

drops on new year's eve, tax hikes and severe spending cuts will kick in automatically unless a deal is reached. wyatt andrews spoke with two men who say they know how it should be done, if only washington would listen. >> reporter: two years ago, the fiscal commission chaired by democrat erskine bowles and former republican senator alan simpson proposed every basic element of the fiscal cliff solution being discussed now. their plan was a mixture of higher taxes, lower spending and the reform of medicare and social security. both men told us sacrifice has to come from everyone. >> all of us have to have some skin in the game to get it done. >> if you want something, pay for it. it's a sick idea, but it is an interesting idea. >> reporter: their biggest idea was to increase revenue by combining both the president's demand for higher taxes on the rich and the republican proposal to get rid of tax loopholes. bowles/simpson would eliminate almost every tax deduction for individuals and corporations, with only a few exceptions for charity donations and home mortgage interests. >> this st

. there are no taxes in glenn becky becky stan stan. there are no roads police, no teachers hospitals libraries garbage pickup or sewage treatment in glenn becky gecky stan. you'll feel like our founding fathers as you fend off wild animals and your fellow tea baggers when provisions run low and the survivalist training kicks in. >> get off my land. >> who needs government! it's overrated. join us in glenn becky becky becky stan stan. we have freedoms with none of the responsibilities. want to shoot your gun in any direction? go ahead. want to lock your wife and children in the basement? nobody's asking questions. remember, freedom isn't free but with a small downpayment it can be yours. >> glenn becky becky becky stan stan. >> our future is in the past. >> stephanie: thank you, boys. oh, by the way, ron paul, i hope he runs again. any room in the clown car next time. he said the secession petitions raise a lot of worthwhile questions. uh-huh. he is pleased -- argument pushing back -- >> are you nuts? >> he pushes b

online or at a bank of america near you. >> brian: eliminating certain tax deductions stop merrence from can falling off the fiscal cliff. president obama seems reluctant. >> it is difficult to see how you make up trillion just by closing loop holes and deductions. the math tends not to work. >> when it comes to taxes, republicans and democrats agree that the current federal tax code is broken and both sides recognize the importance of closing aggregious tax loop hole that is pick winners and losers. tax reform that eliminates tax wasteful preferences to generate revenue will bring efficienciy to the tax system. >> brian: who has the right approach. james freeman. james, i like deadlines and. >> it makes the mind. >> brian: find a cure. president wants to raise upward 35 to 39 percent and republicans say cap the deductions is better? >> clearly if you could simplify the tax code and get rid of deductions without raising rates on investment in particular that is the least economically detructive way to get more money. >> brian: if you cap at $50,000. and you make two million and you choos

and continue to carry which is look the president's approach is attractive to people who are not paying taxes. >> michael: jayar? >> this has been done. he continues to talk about all the things that he did to hurt himself, and then watched everybody implode around him and see where he is. we didn't like him before the election, and and now things change and we get to see everything about him afterward. >> michael: and he does seem like a turkey, doesn't he, brett. >> the things about these turkeys, they die within a year because they were bred for thanksgiving. i'm not going to say that mitt romney is going to die but mitt romney was bred for running for president. after wards what emergency is there but to give him a little slack and let him live out his life at mt. vernon. >> and sending these turkeys to mt. vernon, so i don't know if we want to give him that. >> i don't eat meat. i'll vote for the turkeys. we're insulting these turkeys. they're terrific. they have families. they have nice friends they don't hurt anybody. they don't go around slashing other people's resources. i think the

. with level evidence of progress in striking a deal to avoid " the fiscal cliff. >> the series a tax increases and spending cuts set to go into effect next year would dramatically alter the economy. but the the joins reports. >> we must get an agreement. --athena jones.. >> this is not a done deal or a certainty if congress does nothing which they're pretty good about these days. we will go over the fiscal cliff. >> staffers have a working behind the scenes to find common ground to avoid cuts that should be concerning for everyone. >> they should be worried if we have a defense job or if we are dependent on others of the federal budget. the regulation of our food safety, and our borders being secure. or fbi. >> the sticking point is what to do about taxes. the democrats want to raise taxes for the wealthy and republicans to not. the anti-tax crusader had gotten a majority of the " law makers to pledge not to support any effort to raise taxes. >> i'm willing to recorgenerate revenue. where is below but i will not raise tax rates to do it i will cap deductions, and violates the pledge, long stor

. they are still basically saying that they want to keep the bush-era tax cuts where they are, which is completely the opposite of democrats want, which is to let the bush-era tax cuts expire for the wealthiest americans. republicans talking about reforming entitlements. you have harry reid saying he is not open to reforming specifically social security. there may be some wiggle room on some of the other entitlements, but things are off to a rocky start with house speaker john boehner writing an editorial saying he thinks the president's health care plan should be on the table. that is certainly something that both sides will go to the mat over, but i think there's a lot of pressure to get a deal done by the first of the year for the reason that you just cited. because if they don't, this will have a big impact according to a lot of economists on the economy and they just don't want to see that happen and bear the brunt of that. >> understandably so. quickly, the president's plans for today are what? is he there in the house behind you or elsewhere? >> reporter: he is in the house behind me. quiet

to chartd if washington were to reduce our charitable tax deductions. u.s. charities say they don't want to find out. and just when you think your neighbor, you know him well now there is an effort in mexico to change the country's name coming up. if we want to ime our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ male announcer ] it's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends dember 7th. so now's the time. visit care.gov or call 1-800-medicare. but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus

. if congress and president obama fail to reach an agreement massive tax cuts and spending cuts automatically kick in january 1. anti-tax crusader slamming chambliss. he broke with norquist no tax break pledge. he cares more about his country than the pledge. >>> there were signs truce between israel and hamas is taking hold this weekend. palestinian sources say israel has eased restriction on gaza fishermen allowing them to go up to six miles from shore. the fishermen were restricted to three miles into the mediterranean. palestinian farmers resumed tending land. hamas official say egyptian and israeli officials are expected to meet monday to discuss details of that cease-fire. >>> to egypt now where what's happening makes well, the arab spring look like it never ended. we remember the crowds of demonstrators, protesters, a regime bent on consolidating and preserving its power. that was then. this is the scene right now. demonstrators are back spending the night in tahrir square. president mohamed morsi announced sweeping new powers for himself. ordering egyptian court not to overturn any de

outcome is not to raise taxes on anybody. i do think that if the president has his way and those taxes go up on investors and businesses, it's hard to see where the jobs are going to come from next year. as you know, we still have over 20 million people without a full-time job. so i think getting around this crisis in a way where everybody agrees not to raise taxes on anybody, we go into 2013, maybe that could be the year. and, boy, what a great christmas present this would be, if we actually throw out the tax system and start over. i mean, this is my, this is my new year's wish, that we could junk this tax system, get something that's pro-growth, that creates jobs for every american who wants a job. rick: so on a scale of 1-10, how optimistic are you that we're going to yet a deal like that in. >> oh, i think we will get a deal. it could take a while. you and i could be talking on christmas eve, but i think they will get a deal, and i've got my fingers crossed that taxes don't go up on anyone. rick: steve moore, enjoy the holiday with your wife and three sons. nice to talk to you. heathe

the automatic spending cuts and tax increases. he said going over the fiscal cliff would pose a substantial risk to the economy. according to a new study the fiscal cliff could give 90% of americans new tax bills when the bush tax rates and some by president obama would both end. the working poor would be among the hardest hit. a tax policy center analysis showed a married couple making about $30,000 a year would on average go from receiving a $15 tax credit to owing $1400. >> wow. >> yeah. that's probably a reason to try and get something done? >> maybe we will. maybe we will. >> you would think. >> yeah. or maybe we can just talk about 2016. >> we could do that as well. how are you doing, willie? >> i'm doing well. >> good. just two weeks after the longest -- >> thanks for stopping by. >> doing well. >> you know, just two weeks after the longest, most expensive and exhausting election in u.s. history eyes are turning to 2016 as speculation begins over the next batch of candidates lining up to run for president. >> who could that be? i know it's going to be a surprise. >> i know it is too. we'r

google avoids paying a carpet tax rate by basing it -- carpet tax rate by basing -- corporate tax rate by basing it in another country. >>> the first auction of california's cap and trade pollution permits will generate less money than expected. the first sale only raised $289 million. lawmakers hoped to raise $1 billion by june. there are two more auctions planned in february and may. >>> thousands of people earned their right to extra thanksgiving calories this morning in the south bay. >> the turkey trot drew 25,000 runners. there were serious runners and the folk whose took part in the costume contest. all of the money raised go to three different charities. >> people less fortunate, always like to help. every little thing we can do. nice to help. >> participates were also encouraged to bring canned food. >>> officials say they will rebuild their port to with stand a tsunami. the japanese earthquake triggered a tsunami. they will spend $54 million to rebuild. they will extend 16 feet above the water so it won't rip off the docks. >>> just perfect weather today across the bay area.

everyone's taxes go up. both sides set to meet with business leaders this week. the company will take his campaign on the road, too, as more republicans appear willing to bend on their no new taxes pledge. jon karl is in washington. even though the president has been calling congressional leaders, they haven't made enough progress for another face-to-face negotiation. >> reporter: there's no face-to-face meeting even scheduled now between the president and congressional leaders. but i can tell you that high-level talks with staff are intensifying, with time running out. and republicans are expressing a newfound willingness to compromise on that long-standing republican pledge never to raise taxes. >> the pledge was designed -- >> reporter: meet the anti-tax enforcer. the man behind the pledge. grover norquist. >> republicans who vote for a tax increase are rat heads in a coke bottle. they damage the brand for everyone else. >> reporter: ronald reagan was part of the first pledge. and no republican has been elected without signing that no tax increase pledge. how many of these things have

the oncoming tax increases and spending cuts if the president isn't willing to put his signature program, the healthcare law, on the chopping block. what does that really mean? byron york is chief political correspondent at the washington examiner and a fox news contributor. byron i want you to explain this. i mean, look, obamacare passed the u.s. supreme court and obviously it's not going to be overturned by executive fiat by a president mitt romney. so that leaves a third approach and here what john boehner rights, congress has a constitutional responsibility to conduct thorough oversight of the executive branch and congressional oversight will play a critical role in appealing obama care going forward. how in the world does that happen? >> well, it's not going to play a role in p repealing obamacare. this is a little bit of a surprise from bean bone, he said right after the election i guess that settles it, that makes it the law of the land. what the white house will say, obamacare was passed by congress, signed by congress, upheld by the supreme court. if you want to repeal it you ca

. oh, let me guess --ou see this? more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. >>> a frightening moment for this woman walking her dog in israel when she heard the warning that a rocket was headed for her neighborhood. she shot this video as she took cover. [ bleep ] . >> you can hear those explosions in the distance, right? she is a teacher in israel, lives about a mile from the gaza border. even though classes are canceled and the children have been evacuated, she has chosen to stay home to take care of her dogs. she joins us now via skype. good morning. >> good morning. >> i guess it's afternoon there. so good afternoon. before we get to your personal story, i'm sure you've heard by now about the bus at

are on the ropes because the president was very clear about wanting to raise taxes and the voters voted for him. but he promised people that he would protect them. if this deal happens, you will see taxes go up on 90% of americans. for example, 20 or 30,000 dollars, they would go from receiving money under the earned income tax credit to only $1500. that is just the beginning. unemployment, people have to pay higher taxes in terms of that, this could be a problem for working and middle-class people. jon: back could explain why her people like john boehner say that mr. president, he won the election, it's time for you to lead well. >> we have to face reality that the american people gave the president a do over. the house and the senate, the same position we were in two months ago. the american people may have given the government a do over, but they don't expect a status quo. they want decisions to be made in a bipartisan manner. republicans are willing to meet the president halfway. but he is the leader of the country and it's up to him to propose a plan. it is up to him to provide negotiation

that the gop's opening offer, the sources said would freeze the bush era tax rates, change the inflation can clated for entitlement programs, keep the estate tate at 2012 levels and overhaul of the tax code and not provide a revenue target. martin, if this is the starting point, if that's the starting point -- are republicans as serious about compromise as they claim? >> that offer's like the sticker price at a car dealership. >> with room. >> you know you won't pay that and then the big question unanswered now is will republicans budge on rates or revenue? we have to distinguish. republicans are open to increasing tax revenue by a cap in deductions, closing loopholes and so far they haven't shown willingness to moving tax rates up for upper income americans. do they talk about entitlements? folks on the left say we're not touching entitlements right now. >> talk about what house speaker boehner said demanding that the president's health care law be on the table in the deficit talks, although didn't he tell diane sawyer it was the land of the law? anyway, the cincinnati enquirer saying we ca

points, and that's how to raise more tax revenue. we know republicans can put revenue on the table, but they don't want to see tax rates go up for anyone. we also know that the president ran on this idea of raising taxes on the wealthiest among us. the other issue is entitlements. republicans want to see democrats reform programs like medicare, so those are the sticking points. now, if there's been progress that hasn't been made public yet, and i can tell you that right after the election the president spoke with house speaker john boehner, and they talked about a great phone cal, courteous phone call, they say, but that aides talked about how each side talked about the importance of not making all these public statements so that each side could have room to negotiate. if there's movement being made, we don't know that yet. athena jones, thank you very much. >> coming up in about ten minutes your brain on the fiscal cliff. don't worry. there is a cure. >>> speaking of a whole lot of money, the powerball jackpot is now the largest many the game's history. an estimated $425 million.

was the extension of the bush tax cuts. president obama wasn't interested in a deal because he didn't have much leverage. that meant any deal would favor the republicans and alienate his core constituencies. you fast forward to now, look, all negotiations go through ups and downs, but the bottom line is that both sides need a deal. if the republicans push us off the fiscal cliff, they will be blamed for the subsequent recession and they'll pay the price in 2014. president obama also needs a deal because history doesn't remember who the speaker of the house was during a period of weak economic growth. the president gets the credit or the blame. he's going to be written about for 300 years and he does not want to preside over eight years of the weakest growth in u.s. history. so, he needs a deal so that the next four years are better than the last four years. >> we'll see. obviously, still the opening days of this process. charlie, the fed chairman in new york yesterday referring to these talks, reiterating how important it is they get done. he coined the term, fiscal cliff, "the washington post"

, when they've gotten down to brass tacks and what would have to be done and where the tax rates would need to be raised and where the cuts to medicare and medicaid would need to be, both sides seem unwilling to believe that the other side is really serious about making the changes that then. >> ben bernanke weighed in on this yesterday. let me play that for you. >> indeed, by the reckoning of the congressional budget office, the cbo, and that of many outside observers, a fiscal shock of that size would send the economy toppling back into recession. >> everyone i've had on this program, all the members of congress, have said to me, joanne, we have to get this done, of course it's going to get done. but we should remember it was a year ago today the grand bargain failed. so what's it going to take? >> you know, i think it might take the new congress being seated. i mean, if you think about it, you still have a lame duck congress so, while the election may have changed the atmosphere and sort of the story line for the members, the actual people themselves are still there. so they've not

to get some form of tax deduction so that they can make themselves whole again. we want to keep people in business. second of all, home -- the homes. tremendous damage. there's a point beyond which insurance doesn't cover. we should provide that. that's what we did in katrina. that's what we should be doing for new jersey, whether it be the shore or north jersey area, which was hit severely, like towns like hoboken, little ferry. so we're trying to look at the whole situation, tom. and i think we can come to a resolution. there's the delegation seems to me together. i hope we need to provide a united front or else it's just not going to be work. >> it does sound like you guys are walking side by side in step coordination. the governor was with you part of these meetings. as we talk act federal money for building projects, iffer homes, small businesses, let's talk more about -- because i know this was on the agenda of conversation, as well -- protecting jersey from superstorms, the protection project agenda. what stands out to you? >> it looks like the president and the vice president a

the door to revenue but not by raising taxes. is that going to be enough? might that be the compromised point? >> if you listen to the white house and top democrats it might not be, because they're saying, i think treasury secretary geithner said the other day that's not enough money. president obama starting negotiations at $1.6 trillion in revenues, that's twice as much as the president seemed to agree to two summers ago before the fiscal cliff debt negotiations collapsed with speaker boehner. so i think that's the dividing line right there, whether it's going to be eliminating deducts or higher rates. there's pressure from left on the president to hold the line. he won the election, he told labor leaders last week, prior to meetings on friday, with capitol hill leaders he was going to hold the line. the white house's taking a tough tact here. >> congressman ellison suggests that is not enough on politics nation last night. let's take a listen. >> all of those guys who signed pledges for grover norquist, they're still around. i think the tea party was somewhat of a fleeting moment. he

be done about that. among other things, you're saying taxes should go-- in other words, the bush tax cuts should be allowed to expire on everyone under $500,000. which is more than what the president is saying. he's saying it ought to be at 250. yet difference? and have you tukd him about that? >> sure, yeah, yeah, it was over 500, not under 500. yeah, i-- that position, judy, is one that i put on the table a year ago. and i'll tell you why. there isn't anything sort of theological about the $500,000 number. it's just a compromise. the democrats' position has been tax cuts to expire over 250. the republicans' position has been make all the tax cuts permanent. so a year ago i put a of a compromise on the table. if that compromise were accepted, it would raise $500 billion in revenue over the next 10 years, which would take the potential trillion-dollar sequester and cut it in half. and there are a couple of other steps i put on the table during the campaign as well that would reduce the need to find savings that would shred the safety net or hurt the economy. i am really heartened by the o

chambliss is taking aim at tax reformist grover norquist. why the senator may back out of his pledge not to raise taxes. plus, house majority leader john boehner sounding more and more like republicans won't be easily won over during tax talks. the mering fiscal cliff next. >>> and it was a normal thanksgiving morning until this multi-car wreck. how some 100 cars collided in texas. >> it was just a kmpl seconds, chain reaction. crazy. flashed right before my eyes. i don't spend money on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ throughout our lives. one a day men's 50+ is a complete multi-vitamin designed for men's health concerns as we age. it has more of 7 antioxidants to support cell health. one a day

to be happening other than we know we have a huge fiscal crisis on our hands. we know there will be a lot of tax increases going into effect. americans are going to to be shocked and many things are going to trigger, expiration of the bush tax cuts or increases in affordable health care act and penalties. there are so many things that are going to trigger to increase taxes not only on individuals but businesses and certainly even upon state budgets. >> greta: what is overriding all of this, the reason we're going off the fiscal cliff is because a year and a half ago the congress and president and senate didn't do this work and pushed it up against a deadline. the reason you don't know what is happening with the state guidelines, they had a healthcare claw lau for two years. i know you are a member of congress but nobody is doing any work to get anything done. frankly if you don't know what the rules are, how can you set up the exchange on the promise they are going to do it right later and they don't have a history of doing things right? >> i don't think they're going to have the money to do it

about health care and education and issues like that than they are concerned about taxes. what do you get from mitt romney? you get a campaign that's all about tax cuts rather than about the core kitchen table bread and butter issues. i have been saying that's a big mistake for a long time. now you have a lot of republicans who are catching up, who are getting it. it's about time. >> do you think, roland, they can get it and make up the ground they've lost? so many people are saying you've lost hispanics, you're never getting them back, you're done, there's no more gop. is that ridiculous? >> first of all, i have michael steele on my tv show on sunday and we talked about this year. the republican party has to listen to people. they can't just say well, this is where we stand, what we stand for, and we really don't want to hear what you have to say. you look at what the democrats did, look at what president obama did. they looked at five, six, seven, eight different issues in terms of being able to put together their coalition which was a winning coalition. the republican party often o

for us to be concerned about the potential for estate tax problems moving forward. >> greta: thank you for being with us tonight. go to gretawire.com and let us know what yo anticipated. that would be me making the final appearance. >> hello everyone, happy thanksgiving. and i'm andrea tan tareatearos, happy turkey day. the five of us are honored to be celebrating you. many of you traveled a long way to stay with loved ones. i hit the streets to talk to people to see if they were looking forward to going home for the holidays. ♪ like home, nowhere quite like home ♪ >> family time is coming up, the holidays, are you looking forward to seeing your family. >> i do, i look forward to seeing them. >> are you lying? >> no, i'm not. >> are is there any family members you're the not looking forward to see? >> i think i'm smart enough not to answer that question. >> there's always one in every family. >> we have a very close knit family and enjoy each other, i can't say that. >> my brother and i argue over stuffing, a little of that. >> sometimes things happen that are a little tense.

? >> one thing i'm worried about is the fiscal cliff issue, the tax increases and spending cuts that take place january 1 unless congress and the president reach a deal. businesses have been worried about that for months. maybe consumers are start-- maybe it's starting to creep into their thinking as well. we saw a weaker consumer sentiment number last week. that's thing to watch to worry about as we wonder what the holiday season will be like. >> brown: nariman behravesh, is it strange or do things really change? on the one hand, we want people to get out and spend, but on the other hand, we still talk about over-spending and spending money people didn't really have was part of the problem that got us into this state in the first place. so what's-- that sounds like a little bit of a disconnect. where are we on that? >> well, i think neil is right in saying consumer finances are in much better shape right now. so in that sense, the kind of spending we're seeing now is more sustainable. it's healthier in a sense. debt levels are down. people are not taking, say, home equity out to spend on

. 42% thought the obama administration would be able to do that in 2008. avoid raising taxes. control illegal immigration. heal political divisions in this country. 54% thought so in 2008. bob in north carolina on are democrats' line. you are up next. caller: i just think it is going to be better coming up this next time because i believe obama it did need a second chance. i voted for him. i am a native american and i lived on a cherokee indian reservation. we have to balance our budget. our leaders serve four years just like the president does. we make our budget work. if we don't have the money, we don't do it. that is all i got to tell you. host: jacqueline pata is going to be on later in this program. how would you describe the conditions where you live? caller: we have a heritage casino down here and it does a lot for us. we send all of our kids to college. we pay for it all. they can go to college anywhere in the united states. host: indian gaming has helped urination? caller: very much. host: are independent line, you are up next. what is your optimism level? caller: i am not o

at this morning's dish of scrambled politics. grover norquist, the man behind the anti-tax pledge, signed by a number of republicans over the years, could be losing even more support. georgia senator saxby chambliss tells a georgia tv station he's considering breaking the promise in order to avoid the so-called fiscal cliff. >>> and they are not the only ones trying to avoid the cliff. many major league baseball free agents are trying to get their money up front in 2012 to avoid tax increases. >>> well, the idea of selling designer merchandise on president obama's campaign website was mocked by some but the campaign is having the last laugh. bloomberg businessweek reports the idea by vogue editor anna wi wintor brought in more than $40 million. >>> meantime, the obama campaign is still fuming over some of the polls that got it wrong leading up to election day. the editor in chief for gallop whiched so mitt romney with a bigger lead admits gallup might have overestimated the get-out-the-oat efforts. >>> it's time for a geography quiz. put on your thinking caps. what is the name of this cou

good. all right. stick around. next, democrats say we need to raise taxes in order to avoid the fiscal cliff. would republicans sign a deal like that? charles gas practicery know say -- gas perino said there are a couple ways to explain next bu. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. >> welcome back. while still feeling a little stuffed after thanksgiving yesterday, the bloat is about to get worse. >> that's right. after the main course of the election, the leftover gridlock happening right now in washington could cause a collective fiscal stomach ache by the end of the year. >> here to explain is charlie gasparino. good to have you here. >> good morning. >> congratulations on your italian feast, yesterday. >> he's a great cook. >> so we're heading towards this fiscal cliff. we keep on hearing about it. there are three scenarios that you're concerned about. >> right. we should point out. automatic tax increases, massive budget cuts. but they don't reach a budget. >> you

a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu

there. >> does that change if dividend taxes go much higher as it relates to the fiscal cliff? does the reason to own dividend payers go away? >> i think there will be a repricing of some of that risk, frankly. a lot of it depends on the tone coming out of d.c. there's not going to be a grand bargain this year. i think it's the tone and the message that we'll hear in the next couple weeks. >> meantime michelle, another area you cover carefully, the debt crisis in europe and whether or not greek gets this next trun j. >> headline, greece still needs money. they still haven't gotten it. the hope is they may get it on monday. that could be a potential destabilizing situation, but the bottom line is the only people they really owe the money to right now is the ecb. it's probably going get washed through. it's going to be a lot of drama, but you haven't seen the u.s. markets trade so much on it. we'd have to see them leaving the euro to get an impact. i'm not sure it would be that big an impact. >> you agree, rick santelli? >> i think greece is the canary in the coal mine with regard to

court ruling called "speech now," and the politically active tax exempt groups which also represented the other most important trend hereby the growth in undisclosed money. these groups call themselves social welfare groups even though they're very political in their messages, and social welfare groups don't have to say who their donors are or where their money comes from. so that's a really big change. >> woodruff: matea gold, how did they operate differently from what we've seen in the past? many of them don't have to disclose-- some do, but many don't. what else was different? >> well, i think as, liga mentioned, the c-4 activity is new. we saw it in past elections but citizenses united gave them a legal right to engage in independent political spending and they really did so with vigor. one of the things that is important to remember remember when we talk about the $1 billion in outside spending. that's just the spending that was reported. there are probably hundreds of millions of dollars more that we don't know about. >> woodruff: and what did the money go toward? we assume, eli

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